Local Bounti entered a convertible note and warrant purchase agreement with U.S. Bounti covering a USD 15 million convertible note and a warrant for 5.5 million common shares. The note bears 7% annual interest that accrues semi-annually as paid-in-kind interest starting Dec. 31, 2026. The note is initially convertible at USD 2.5 per share, with 50% set to convert on the fourth anniversary of issuance and the remainder on maturity, subject to certain conditions. Local Bounti also signed a letter agreement with Cargill Financial amending its senior credit agreement to set minimum liquidity at USD 3.5 million through Sept. 30, 2026. The amendment sets minimum liquidity at USD 2 million from Oct. 1, 2026 onward.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Local Bounti Corporation published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001628280-26-017930), on March 16, 2026, and is solely responsible for the information contained therein.